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Weekly Property News
Friday, 20 August, 2010 |
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FROM THE EDITOR |
Dear Reader
The countrywide public servants strike is crippling services
all over South Africa. Its predicted that more unions
will be joining the strike. The Deed Office is already on
strike. The strike will affect buyers, sellers, estate
agents, transfer attorneys, furniture movers and others, and
will cause a fair measure of chaos throughout the property
sector says Lanice Steward, MD of Anne Porter Knight
Frank. Under normal conditions, said Steward, transfers take
six to eight weeks in the Cape Province. The strike by the
Deeds Office could extend this indefinitely as the signs are
that it could be long-lasting.
Headlines: Building completions have weakened further
in the second quarter of the year, but building plans passed
are beginning to show signs of bottoming out. Room for encouragement
on building plans
Market news: The latest statistics released by bond
originator ooba indicate a consolidation of the recovery in
the property market which began in the second half of 2009.
According to Saul Geffen, CEO of ooba, the monthly trends
in the statistics tracked by ooba, which include movements
in house prices, approved bond sizes, deposit requirements
and bank decline ratios, all suggest that the positive conditions
for homebuyers will continue into the second half of 2010.
Enjoy!
The editor
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Local
News |
| House
prices power ahead |
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The latest statistics released by bond originator
ooba indicate a consolidation of the recovery
in the property market which began in the second
half of 2009...
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| Deeds
Office strike will cause delays |
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The importance of having a definite occupation
date and an occupational rental in every deed
of sale in case the transaction does not
go through on the anticipated date has
been highlighted by the Deeds Office strike, says
Lanice Steward...
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| The
real benefits of homeownership |
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Talking recently to a group of Rawson Properties
franchisees, Bill Rawson, Chairman of Rawson Properties
said that estate agents should be trained to sell
the psychological and social benefits of homeownership
to a far greater degree than is currently done...
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| Six
reasons not to buy property |
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We often hear about real estate investors who
have been very successful in building wealth-creating
portfolios. We may believe that they have some
very special skill or ability, that there is something
they know which nobody else does...
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| A
guide for investing in property |
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The World Cup fever brought with it massive capital
and infrastructure spend at a scale and proportion
that has not been seen in its history before.
World class stadiums, improved highway and road
infrastructure and leisure capacity in world class
hotels and luxury accommodation...
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| Advice
to retirees |
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Although some recent media reports have been
ambivalent on future prospects of the Cape residential
market, it is showing a slow but steady upward
trend, says Lanice Steward...
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| How
to pay off your bond faster |
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Adrian Goslett, CEO of RE/MAX of Southern Africa,
provides some excellent tips for paying off your
bond faster in a cash strapped environment...
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| Why
landlords love Eskom |
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Residential landlords who want to keep their
tenants may have to forego any further rental
increases this year as the new Eskom electricity
tariffs start to eat into disposable incomes...
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| East
London stand attracts record price |
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A stand of 1200sqm located on the Nahoon River
has just been bought for R3,5m or R2917/sqm,
the highest price yet paid for undeveloped residential
land in East London...
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| Sometimes
off-plan property doesn't look as good in reality |
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Paul Henry, the managing director of Rawson Developers,
has warned that although there are big advantages
to buying off plan, there is always a danger that
the final product may not be as good as the computer
graphics and plans led the buyer to expect...
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| All
amendments to property transactions must be signed |
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A recent court case in which an owner who changed
his mind about wanting to sell his property was
able to get the whole deal declared invalid on
the grounds that a single amendment, added later
to the deed of sale, had not been signed by both
parties, has shown once again the importance of
having all property transactions in writing...
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| Property
bargains beckon investors: expert |
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While the property market still faces headwinds
via high household debt levels and rising unemployment,
it maybe an ideal opportunity for investors to
enter the market locally and offshore...
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Focus
On |
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Search
For Properties |
Search for property in your area
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In
the Area |
The areas we are going to take a closer look at this
week are;
- Johannesburg (Western areas)
- East London
- Ottery
| In
the area 1 - Johannesburg (Western areas) |
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Gavin Bouwer, Broker/Owner of RE/MAX 2000 which
services the western and north western suburbs
of Johannesburg, says that sales volumes in 2010
have shown a 40% to 50% increase over the same
period last year, even though prices have remained
depressed, and in some instances even dropped...
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| In
the area 2 - East London |
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Well-priced homes move fast in East London
Anne Chegwidden, Broker/Owner of RE/MAX Sunshine
Coast, reports that there has been an increase
in buying activity in her areas of operation,
which covers East London and surrounding locales
from Kaysers Beach, Kidds Beach, Gulu and east
along the coast as far as Morgans Bay and Haga
Haga...
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| In
the area 3 - Ottery |
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Mark Brickles, Broker/Owner of RE/MAX Ultra Select,
which operates in the areas of Ottery, Lansdowne,
Rondebosch East, Wetton, Grassy Park, Wynberg,
Southfield, Plumstead, Retreat, Zeekoevlei and
even as far as Strandfontein and Mitchells Plain,
says that it is very difficult to comprehend why
houses for sale in Ottery and the surrounding
areas would not sell since the area offers real
bargains and value for money real estate...
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News
from Santam |
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Launch of Stilus (insurance for the sectional title industry) |
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Reaction to the initial announcement that Stilus,
a newly launched Santam backed insurance policy
especially designed for the sectional title industry,
has been better than anticipated, says Charles
Coetzee, the executive director of Stilus Underwriting
Managers...
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Local
News Continue |
| Home
owners' associations are not the same as sectional title
schemes |
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There seems to be some confusion of late as to
the differences between home owners associations
and sectional title schemes. Sectional title is
a legal arrangement in terms of which parts of
buildings can be exclusively owned, in conjunction
with shared ownership of other parts of the buildings
and the land...
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| Death
of the estate agent |
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Although many business sectors were hit hard
by the 2008-2009 recession and had to make people
redundant, possibly no sector lost more staff
than those involved in residential property marketing,
says Lanice Steward, MD of Anne Porter Knight
Frank...
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CyberProp
Property Count: 20/08/2010 |
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